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Unaudited Condensed Consolidated Statement of Cash Flows - USD ($)
3 Months Ended 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES        
Net loss $ (6,280,000) $ (11,744,000) $ (21,300,000) $ (28,599,000)
Adjustments to reconcile net loss to cash (used in) provided by operating activities        
Gain on settlement of accounts payable (449,000)    
Merger and acquisition costs 1,194,000    
Gain from settlement of BTC Note     (6,248,000)
Impairment of digital assets     275,000
Realized gain from sale of digital assets     (535,000)
Realized gain from use of digital assets     (3,899,000)
Unrealized loss (gain) on digital assets 127,000 (1,703,000) (1,566,000)
Impairment of miners     8,335,000
Depreciation expense 1,071,000 3,247,000 11,179,000 14,958,000
Forfeiture of restricted common stock awards     (1,910,000)
Compensation cost related to restricted common stock awards     1,588,000 1,508,000
Fair value of common stock issued to consultants     1,884,000
Compensation for services contributed by the Company’s President     250,000
Stock-based compensation 772,000 208,000 1,588,000 (152,000)
Unrealized loss (gain) on marketable securities 66,000 216,000 288,000 (168,000)
Loss on asset disposal     146,000 55,000
Change in fair value of BTC Note     8,058,000 13,193,000
Change in fair value of notes payable 9,638,000    
Interest expense 287,000 914,000 758,000
Digital asset revenue (1,558,000) (7,490,000) (20,539,000) (21,052,000)
Other     67,000
Changes in operating assets and liabilities        
Proceeds from the sale of digital assets 1,647,000 6,106,000 20,260,000 18,512,000
Accounts receivable (175,000) 485,000 486,000 (456,000)
Prepaid expense (914,000) (28,000) (230,000) (249,000)
Accounts payable and accrued liabilities 1,280,000 (205,000) 1,684,000 1,968,000
Net cash used in operating activities (3,219,000) (983,000) (3,396,000) 3,011,000
CASH FLOWS FROM INVESTING ACTIVITIES        
Purchase of miners (558,000)    
Purchase of mining equipment     (1,075,000) (1,894,000)
Proceeds from the sale of miners     170,000
Refundable deposit (1,222,000) (1,842,000) (360,000)
Net cash used in investing activities (1,780,000) (2,747,000) (2,254,000)
CASH FLOWS FROM FINANCING ACTIVITIES        
Notes payable for insurance 343,000    
Payment for insurance payable (47,000) (90,000) (601,000) (109,000)
Issuance of note payable for insurance premiums     569,000
Payment for interest on notes payable     (40,000)
Cash paid for legal fees incurred for BTC Note restructuring     (230,000)
Interest payment (71,000)    
Proceeds from registered direct offering 2,095,000 670,000
Cost incurred for registered direct offering (75,000)    
Proceeds from issuance of common stock ATM 2,409,000 1,395,000    
Cash expenses for issuance of common stock (72,000) (343,000)
Cash acquired in connection with the reverse recapitalization 500,000 500,000
Proceeds from issuance of common stock – private placement     1,395,000
Proceeds from issuance of common stock – ATM     4,043,000
Net cash provided by financing activities 4,582,000 1,805,000 5,963,000 (109,000)
Net change in cash (417,000) 822,000 (180,000) 648,000
Cash-beginning of period 735,000 915,000 915,000 267,000
Cash-end of period 318,000 1,737,000 735,000 915,000
Reconciliation of cash and cash equivalents and restricted cash        
Cash and cash equivalents 318,000 1,737,000 735,000 915,000
Restricted cash 1,263,000 8,000
Cash and cash equivalents and restricted cash 1,581,000 1,737,000 735,000 923,000
Supplemental Disclosures of Cash Flow Information:        
Cash paid for interest 40,000
Cash paid for income taxes 176,000
Non-Cash investing and financing activities:        
Accrued expenses for issuance of common stock 55,000 322,000 845,000
ASC 2023-08 fair value adjustment     740,000
Fair value of common stock issued for settlement of BTC Note     5,072,000
Fair value of warrants issued for settlement of BTC Note     3,048,000
Promissory note issued for settlement of BTC Note     5,000,000
Digital assets used for principal and interest payment BTC Note     $ 3,665,000 $ 7,770,000
Value of common stock issued for acquisition of Akerna’s net book value (2,256,000)    
Digital assets used for principal and interest payment on BTC Note 1,750,000    
Fair value of shares issued for services 250,000    
Accrued expenses for issuance of common stock $ 773,000